Mr. Johnson, what do you think about people selling their own homes without the use of a realtor?

In my 17 years of experience, I have known some people who have been very successful selling their own homes, but they have usually been people who have sold their homes before. Also, they are people who are very confident in their ability to "close the sale."

A couple of the drawbacks to selling your own home is that it often takes longer, especially if you have it priced higher than the market will bear. You will have to be available at all times of the day and all days of the week to show your home, especially in Taos, because so many of our buyers are from out of town and they are only here for a short period of time. Another drawback is that you never know whom you are letting into your home. They might not be on the up and up.

For the buyer, once they buy from someone that person is gone from the community so there is no one to come back on if the transaction has problems. In addition, if the buyer is not an experienced buyer he or she often does not know what issues or questions are important. For example, the seller may not tell the potential buyer all the facts such as information about water rights, native american rights, clear title, title insurance, etc.

What is all this I hear about disclosure?

Full disclosure means that you and your realtor should tell the potential buyer everything about the house. If there is a leak in the master bedroom closet, don't let them discover it after they have bought the house. Or if there is no insulation in your home, tell the buyer. Don't let him or her hear it from the gas company. Anything that is wrong with your home should be duly noted on the disclosure statement. If your realtor withholds information about your home from the purchaser, he or she can be held liable and sued in court, along with you, the owner. Full disclosure is the only way to go. Hiding information can cost much more in the long run in legal fees.

As a buyer why shouldn't I just drive around and look for a home by myself?

In Taos, it is often difficult to tell much about a home from seeing just the outside of it. Also, you wouldn't want to go up and peer in the windows. You might get shot. A good realtor can help you zero in on your needs and also help you decide in what price range you should be looking. The realtor has access to information about many more homes than you see advertised each week. Also, it is a much more efficient process for both the seller and buyer.